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LONDON, UK / ACCESSWIRE / January 3, 2017 / Active Wall St. blog coverage looks at the headline from Cytori Therapeutics, Inc. (NASDAQ: CYTX) as the Company announced on December 29, 2016, that it has entered into a common stock purchase agreement and registration rights agreement with Lincoln Park Capital Fund, LLC, a Chicago-based institutional investor and existing stockholder in the Company. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Cytori Therapeutics' competitors within the Biotechnology space, Celgene Corp. (NASDAQ: CELG), is estimated to report earnings on January 26, 2017. AWS will be initiating a research report on Celgene in the coming days.

Today, AWS is promoting its blog coverage on CYTX; touching on CELG. Get all of our free blog coverage and more by clicking on the links below:

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The Agreement

On December 22, 2016, Cytori entered into the Purchase Agreement, pursuant to which it can sell to Lincoln Park an aggregate of up to $20.0 million of its common stock. In connection with the execution of the Purchase Agreement, Cytori issued to Lincoln Park 127,419 shares of its common stock as an initial commitment fee. Cytori will have the right at its sole discretion to sell to Lincoln Park up to $20.0 million worth of shares over a 30-month period. Cytori stated that it will control the timing of any future investment and Lincoln Park will be obligated to make purchases in accordance with the Agreements. The Company stated that it will utilize the proceeds for working capital and general corporate purposes.

"We anticipate that the forthcoming New Year will bring a number of important milestones for Cytori," said Marc H. Hedrick, M.D., Cytori's President and CEO, "This $20 million financing facility will help provide additional financial flexibility to Cytori in its efforts to move forward with these key milestones for its stockholders."

Cytori noted that there are no upper limits to the price Lincoln Park has to pay to purchase common stock from the Company and the purchase price of the shares will be based on the prevailing market prices of Cytori's shares at the time of each sale to Lincoln Park. Cytori stated that no warrants, derivatives, financial, or business covenants are associated with the Agreements and LPC has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of shares of the Company's common stock.

Addition of Board of Director

On December 28, 2016 a day before the transaction with Lincoln Park, Cytori announced that Ronald A. Martell has joined the Company's Board of Directors to serve as an independent director, effective December 27, 2016. The Company stated that Mr. Martell has more than 25 years' experience building and managing unique businesses in the biotech industry, and most recently served as Chief Executive Officer at Sevion Therapeutics, prior to which he held similar roles at NeurogesX and at Poniard Pharmaceuticals.

ADRESU Trial

On December 14, 2016, Cytori announced that over half of 45 patients in the ADRESU trial in Japan have been enrolled and treated. ADRESU is a late phase, investigator-initiated Japanese clinical trial to study the efficacy and safety of Cytori Cell TherapyTM in men with stress urinary incontinence after prostatic intervention for prostate cancer or benign prostatic hypertrophy.

ADRESU is a multicentre, 45-patient-open-label-controlled trial of ECCI-50 therapy, comprised of periurethral injection of autologous adipose derived regenerative cells (ADRCs), and a mixture of ADRCs and adipose tissue, and is based on pilot trial data published in the International Journal of Urology in 2014. The primary endpoint for the ADRESU trial is the number of patients who experience reduction of urinary leakage by > 50% volume at 52 weeks after treatment. The Company stated that if the endpoint is successfully achieved, the data will be used to seek approval and reimbursement of ECCI-50 for this indication. The trial costs are substantially supported by Japan's Ministry of Health, Labour and Welfare and Japan Agency for Medical Research, and Development with additional support (providing the Celution® system plus all required accessories) by Cytori.

Stock Performance

At the close of trading session on Friday, December 30, 2016, Cytori Therapeutics' stock price rose 8.63% to end the day at $1.51. A total volume of 274.80 thousand shares were exchanged during the session, which was above the 3-month average volume of 181.81 thousand shares. The stock currently has a market cap of $30.95 million.

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SOURCE: Active Wall Street